SUPERNEWS

Macro

Dow Up 0.57%, NASDAQ Leaps 2.01% on Microsoft's $61.9B Earnings

Dow climbs 0.57%, NASDAQ jumps 2.01%, buoyed by Microsoft's earnings beat and sectoral shifts in a robust trading session.

By Bill Bullington

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4/26, 15:18 EDT
S&P 500
iShares 20+ Year Treasury Bond ETF
iShares 7-10 Year Treasury Bond ETF
Microsoft Corporation
Saia, Inc.
Snap Inc.
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Key Takeaway

  • Dow Jones surged 0.57% to 38,303.11, NASDAQ rose 2.01% to 15,925.77, driven by Microsoft's earnings beat with a revenue increase of 17% YOY to $61.9 billion.
  • Biodexa Pharmaceuticals soared 78%, Snap Inc. jumped 26%, and Universal Logistics Holdings gained 37% on positive financial results.
  • iClick Interactive plummeted by 53%, Nuwellis dropped by nearly 42%, and Saia fell by over 20% following disappointing financial news or corporate actions.

Market Momentum Gains

U.S. stocks experienced a notable uptick toward the close of trading, with the Dow Jones Industrial Average climbing over 200 points, marking a 0.57% increase to 38,303.11. The NASDAQ Composite saw a more significant rise, jumping 2.01% to reach 15,925.77, while the S&P 500 also enjoyed gains, up 1.14% to 5,106.22. This positive momentum underscores a robust trading session, reflecting investor optimism across major indices.

Sector Performances Diverge

The day's trading highlighted a divergence in sector performances, with communication services shares leading the gains by rising 4.3%. This surge contrasts sharply with the energy sector, which saw a modest dip of 0.8%. Such sectoral shifts indicate a nuanced market landscape, where investor sentiment varies significantly across different industries.

Microsoft's Earnings Beat

A key headline driving market sentiment was Microsoft Corp's impressive earnings report. The tech giant announced a 17% year-over-year revenue increase to $61.9 billion, surpassing the consensus estimate of $60.804 billion. Earnings per share also beat expectations at $2.94, compared to analyst predictions of $2.82 per share. This financial performance not only boosted Microsoft's stock but also contributed to broader market optimism, reflecting the strength of major tech companies in driving market trends.

Global Market and Economic Indicators

On the global front, European shares ended the day higher, with the eurozone's STOXX 600 up 1.11% and other key indices also posting gains. In Asia, markets closed mostly higher, signaling a positive sentiment that transcends regional boundaries. Economic indicators revealed mixed signals, with the U.S. Personal Consumption Expenditure (PCE) price index rising more than expected, indicating persistent inflationary pressures. Meanwhile, U.S. personal income and spending both showed increases, suggesting continued consumer resilience.